Yes!!! You got it right, very soon Twitter is going to join Facebook and Google in breaking down on cryptocurrency ads. The ban will be against ads on ICOs, cryptocurrency and wallets. It could also include banning cryptocurrency exchange but with several exceptions.
Twitter has reached on Sky’s news report on Monday that the step will be implemented within 2 weeks.
The report added that,
“Twitter may also ban all ads for cryptocurrency exchanges, with some limited exceptions, when the policy was launch”.
Previously, the digital giants, Facebook and Google have already imposed a ban over crypto-related ads. Similarly, in January, Facebook also took the same decision by cracking down on crypto financial products that misleads or deceptive illegal activities.
Thus, Facebook and Google banned ads on crypto trading.
The Google’s Director of Sustainable Ads, Scott Spencer said,
“We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)”.
Google has restricted 79 million ads that intending to misguide people with malware loaded site. Also removed 400000 such unsafe sites in last year.
Recently, Twitter undergoes several measures to stop cryptocurrency scams by joining other social media in cutting down destructive content. The spokesperson told Bloomberg,
“Twitter is aware of -related “manipulation,” and is implementing measures to “prevent these types of accounts from engaging with others in a deceptive manner”.
Moreover, Jack Dorsey, Twitter Chief Executive Officer also spoke on the issues in response to a comment. He wrote on it when Emin Gun Sirer, cryptocurrency follower marked the occurrences of its scams on the site.
Twitter to start taking down verified accounts by small amounts of a cryptocurrency while impersonating celebrities. It says,
“We’re aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner”.
For instance, in a recent day, there are more number of scammers on twitter have copied Elon Musk, McAfee and Vitalik Buterin. As they ask to send amount of currency in return to receive much more than that. However, they slightly change username like spelling or avatar of the verified account.
After Google and Facebook prohibited crypto ads, it seems difficult for ICOs investors. However, both the platforms were significantly essential.